He was appointed Governor of the Bank of England in 1961, a position he held until 1966. During his governorship he clashed with the incoming Labour Prime Minister Harold Wilson over Cromer's desire to see government spending contained, which may have contributed to his decision not to seek a second term. Cromer was subsequently appointed to the Privy Council. He was responsible for the Cromer Report[clarification needed] into Lloyd's of London.
From 1971 to 1974 he served as British Ambassador to the United States. Following his appointment he became a Knight Commander of the Order of St Michael and St George,[2] and was raised to the rank of Knight Grand Cross in 1974.[3] He was a Governor of the pro-NATO Atlantic Institute and a member of the Pilgrims Society executive committee.
The Hon. Vivian John Rowland (born 1950), married his second cousin Lavinia Baring.
Both the Countess of Cromer and her daughter-in-law were royal attendants. Esme Harmsworth was a Lady of the Bedchamber to Queen Elizabeth II, while Lavinia Baring was a Lady-in-Waiting to Diana, Princess of Wales.[citation needed]
In 1964, during the period he was at the Bank of England, Cromer purchased a Fairey Huntsman 28 sports cruiser from Fairey Marine, Hamble. Bearing the name Le Reve, the vessel was taken to France. The boat still exists, and details can be seen on the Fairey Owners Club[5] website.
The 3rd Earl died on 16 March 1991 in London. Esme remarried in 1993 to Gerrit van der Woude.
Arms
Coat of arms of Lt. Col. Rowland Baring, 3rd Earl of Cromer, KG, GCMG, MBE, PC
Between wings conjoined in base Argent a mullet Erminois.
Escutcheon
Azure on a fess Or an escallop Azure for difference in chief a bear's head couped proper muzzled and ringed Or.
Supporters
Two bears proper muzzled Or that to the dexter collared checky Argent and Azure and charged on the shoulder with a lion's head erased Or that to the sinister collared gemel and charged on the shoulder with an escallop Or.